Reversing exchange rates (going from base currency to foreign)

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Posted on by awalters

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All currency functionality I've seen in CRM seems to be based around going from foreign currency to your base. Is there any way to do the reverse? We need to add budget items, expenses, etc... into our local currency and have them translated to the various clients' currencies.

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awalters 3,079 on at

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RE: Working with multiple static exchange rates for same currency

Had some stuff here that's no longer relevant, but I can't delete the comment...:-(

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Felippe 796 on at

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RE: Reversing exchange rates (going from base currency to foreign)

Wich method you are using to add this budget items?
Excel spreadsheet ?
I think you just need the currencies on your target environment and load the specified currency name along with the budget item record.
If the users need to see the same field in different currency values(in dashboards for instance), the user can set their own default currency:

If this solves, please "Like" and Mark as "Verified Answer"

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awalters 3,079 on at

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RE: Reversing exchange rates (going from base currency to foreign)

The budget items might be added either directly in CRM, or occasionally in a spreadsheet import. The issue with using the built-in currency is that it goes from the other currencies to your base, not the other way around. So if the person is in Canada, and has a Canadian base currency, but needs to enter their Canadian expenses on one project and translate them to USD for one client, and their Canadian expenses on another project to GBP for a different client, etc...I don't see how to achieve this. Then add the wrinkle of the fact that they traveled for the project, so some of their expenses are in CAD but some are in INR or whatever other currency...

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Alagunellaikumar 6,212 on at

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RE: Reversing exchange rates (going from base currency to foreign)

Please correct your requirement If i am wrong.

If the person is in Canada, and has a Canadian base currency( select canadian currency in project record), but needs to enter their Canadian expenses on one project and same record open different client(user) for them value need to show in USD. Am i correct?

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awalters 3,079 on at

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RE: Reversing exchange rates (going from base currency to foreign)

The users are CRM users, meaning staff members. So all staff members are based in Canada and have the CAD base currency, but need to prepare project budgets, reports, etc... for various external clients in those clients' currencies. So, sometimes a user will have line items (expenses, budget lines, etc...) that are in Canadian Dollars, but need to be invoiced or reported on to each of their clients in that client's currency (so for one client/project those would need to be translated to USD, and another one maybe GBP, and another it's just in CAD and doesn't need to be translated at all).

There are also cases where some of those line items will be in the currency of wherever the employee is travelling, not CAD, and then those would have to be translated to whatever the client's currency is. I don't see any way CRM can handle this, but I was at least hoping the first situation could be handled.

The more I look at CRM's "multi-currency" functionality, the more I'm confused as to how many businesses it could possibly be sufficient for (assuming they use multiple currencies at all). It just seems so limited. I feel like our two options right now are to ignore the OOTB and build our own, or try to connect up with NAV solely to do these calculations, which seems like overkill. And given the limits on NAV access in our org, management of currencies being in NAV (instead of in CRM and maybe synced with NAV) is not ideal.

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Felippe 796 on at

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RE: Reversing exchange rates (going from base currency to foreign)

Okay, I think I understand.

We have two problems:

The first one is in relation to conversion of the base currency for other currencies depending on the customer's currency to which the report is intended.

Well, I see two ways to solve this problem:

Starting from the following premise:
1. You have registered in the currency table the corresponding value of all the coins you'll need against the Canadian dollar (base), represented by the "exchangerate" field value.

2-You can use customizations in this organization via SDK as plugins / OData Js requests

3-These "reports" or "project budges" that need to be displayed in several different quotes will be represented in a SSRS report or other record of a particular entity on this same organization.

So

If a record "(expenses, budget lines, etc ...)" inserted in the base currency (CAN) is intended for only one client.

AND

This client is represented in your organization into an entity "Account" or "Contact" and has only one preferred currency (which will be your target currency)

You can associate the client through a field "lookup" on record "(expenses, budget lines, etc ...)" which was created by the user.
Place a plug-in step on PreCreate or PostCreate event that will seek customer currency quotation in relation to the base currency through the value of the "exchangerate" contained in the entity "transactioncurrency" and will update this value or create a record copy to the value in the currency of destiny. (When considering the value of the quotation of that day).

Now if you want the same record "(expenses, budget lines, etc ...)" is billed / reported at run time and the target currency is not pre-determined, means, you'll define for which currency will be converted just at the time that the report is exported, so you can develop an SSRS report with a currency parameter, which depending on the choice that the user makes to the target currency, when the report runs, the values are converted.

Now, to solve the second problem: Multiple currencies for multiples currencies N:N

At the moment I can only think of creating a custom entity that will have multiple records with the columns "from currency," "to currency" and "value". In it you must update the prices according to your need (from time to time, or "real-time").

The export of the same would occur similarly to the problem 1, only searching the values in this custom entity

If this solves, please "Like" and mark as "Verified Answer".

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Alagunellaikumar 6,212 on at

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RE: Reversing exchange rates (going from base currency to foreign)

Thanks awalters for providing detailed information.

CRM Default behaviour:
In CRM default currency(base currency,currency given at the time of CRM installation), all currency and their exhange rate have to be configured in the currency master(settings->Bussiness Management->Currency).

In entity for each currency field internal they have base currency field. Let example:
In quotation totalAmount currency field, in the database it have two totalAmount and totalAmount_base columns.
totalAmount= Amount given in the CRM UI
totalAmount_base= Amount given in the CRM UI * exhange rate(defined in the currency master)

Suggestion:
For your question it is not possible by default configuration, we have to do customization. If you provide me answer for the below question. It would be more helpful for giving proper/adapt solution for your environment.

I know answer preparing for below question it takes time, because understanding your environment only way to give proper solution.

Question:
Which CRM version are you currently using?
Which entity module are using system or custom entity? Pls mention module name.
I can understand your business process Please provide screen shot of module UI

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awalters 3,079 on at

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RE: Reversing exchange rates (going from base currency to foreign)

The problem with doing all of this as a custom entity/functionality is that then every time we need one of these fields, we have to basically manually reproduce all of the CRM functionality of "oh, this is a currency? then you'll need a second field to hold the translated value, along with fields to identify what currency each value is in. and then you need to lookup the exchange and do the calculations". For every field. There's no way in a plugin to create a custom data type, is there? So that whenever we needed a currency field, we'd create a field with the data type of "Custom currency" and all these steps would be automated, like the OOTB currency. If those steps can't be automated, then we don't gain enough from the effort it takes to write a custom coded plugin, to my mind. Especially since all of those customizations only happen in hard-coded reports and/or at record save time (in the case of plugins doing calcs on record save), and not on the user's screen in the records they're working on, the way OOTB currency fields do. There'd then have to be a bunch of javascript on top to get that client-side stuff....and there's no way doing all of that work on the backend outweighs the user just having to enter an exchange rate and doing business rule calcs every time. That's also an irritating solution, but way less work.

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awalters 3,079 on at

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RE: Reversing exchange rates (going from base currency to foreign)

I swear it seems like every single question I ask on here of "can we do X" is either "no", or "yes, but only with large amounts of coding". I didn't think our requirements were so unusual, but we seem to have a lot of scenarios that cannot be handled with the built-in customization methods. :-(

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Felippe 796 on at

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RE: Reversing exchange rates (going from base currency to foreign)

Well, the way you need it to work (as a native feature that applies to all possible situations where a currency may appear), I unaware trivial out to solve.

Best Regards,

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